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For more information on the Tenth District agricultural economy via the RightRisk Newsrelease see: RightRisk.org/news.
FARM INCOME AND CREDIT conditions in the Tenth Federal Reserve District tightened in the first quarter of 2024. According to the Survey of Agricultural Credit Conditions, farm incomes retracted at a sharp pace, farm loan repayment rates declined at a modest pace and loan demand rose notably. Conditions tightened comparatively more in states with greater reliance on crop revenues and less in more cattle heavy areas. As lenders entered the renewal period for annual operating lines, loan denials were very limited but many reported an uptick in carryover debt and loan restructuring to meet liquidity needs . . .
